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HDFC Life Health Assure Plan

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Call 0 94 8300 8300 (India)

 

There are limits on most of the benefits it offers and it also has a large number of exclusions

PRODUCT FEATURES: The plan offers reimbursement of medical expenses incurred in a hospital and is available in two variants. You can choose an individual policy or a family floater policy where you can cover spouse, children, parents and parents-in-law. The mode of premium payment can be single premium or annual premium. The sum insured ranges from Rs 3 lakh to Rs 10 lakh depending on the plan option. The minimum entry age is 18 years and is renewable lifelong. The policy term is three years and your premium remains the same during the three-year period even if you have made a claim. Your sum insured doubles after two claim-free years.


WHAT IT COVERS: The policy covers 200 daycare procedures besides covering inpatient hospitalisation, pre-and post-hospitalisation, emergency ambulance and donor expense benefit. However, maternity bene fits, hospital cash benefit, wellness benefit are offered only in the gold plan option (plan with higher benefit sum insured). Maternity will be payable only after three years of continuous coverage of the policy has elapsed.


EXCLUSIONS: The policy has a large list of exclusions. For instance, people involved in naval, military and air force operations are excluded under the policy besides non-allopathic treatment, conflicts and disasters, sports related activities such as racing, diving, scuba diving, parachuting, and many more.

PREMIUM: Let's take the example of a silver option plan. For a Rs 3 lakh cover at the age 35, the regular premium excluding taxes would be Rs 4,854 for a male and Rs 5,339 for a female. In the case of single premium option, the amount would be Rs 12,612 for male and Rs 15,064 for a female. The premiums are higher in the gold plan and would change if you opt for a family floater policy with dependents.

Avoid this plan as it is very restrictive.

There are limits on most of the benefits it offers and it also has a large number of exclusions. For instance, it would apply a co-payment of 20 per cent in case you take treatment in a non-network hospital. On the same lines, in case of a cataract operation, the company will pay up to Rs 20,000 for a single eye. The room rent too has been capped at 1 per cent of the sum insured in case of a regular ward and 2 per cent of the sum insured in case of an intensive care unit.

You should instead buy a health insurance policy from a non-life insurance company, which will cover your hospitalisation expenses and not cap your room rent.

Happy Investing!!

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You can write back to us at PrajnaCapital [at] Gmail [dot] Com

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